Tool Fund

ENTS members have decided to band together to buy tools for the space. Hov's brainchild is the Tool Fund, where member contribute money ideally monthly, but one-off contributions are accepted as well. The idea is the for every $25 donated, the donor receives 1 vote. Voting happens monthly and donors can either vote to buy tool/s, supplies or to keep the fund for another month, either to save more or to wait for a better purchase need to appear.

Q: What will the money be used for?
A: Primarily tools and the maintenance of tools. It's impossible to say with certainty, since donors decide what will be purchased. The idea at inception was that bigger ticket items be the primary goal and some smaller ticket items.

Q: Who decides what to buy?
A: Donors will, those who have invested in the fund get a say in how the money is spent.

Q: Is a group buy right? Will members own a portion of what is bought?
A: No. ENTS will own anything purchased from the tool fund. Money donated to the tool fund is exactly that, a donation.

Q: How will the tools and equipment be maintained once purchased?
A: This will also be a portion of the Tool Fund's responsibility.

Q: How are purchase decisions made?
A: There will be monthly threads in the forums to discuss what donors want to see done with the funds. Votes are decided by a 50+1 majority.

Q: How will the membership know of the Tool Fund's Health?
A: The Tool Fund's balance and recent decisions will be reported on at monthly meetings. Tool Fund discussions will happen separately, this is to ensure that the monthly meetings stay on topic. Donors will meet otherwise to decide how to administer the Tool Fund.

Q: What about training and all that other stuff?
A: Depending on the tool/item we'll figure that out. Some won't need any and some will need a lot.

Q: You're going to buy nothing but Garage Stuff or Electronics Stuff or or or right?
A: No. The idea would be to spend the money on things for the garage and things for electronics or prototyping or computers or software or or or. We'll be trying to spread the money around and get the biggest bang for the buck.

Q: Who is in charge of the Tool Fund?
A: Grelli will be taking care of the accounting and bookkeeping. Hov will be organizing/moderating the forums and such. Depending on the purchases there will be others involved for specific items.

Q: Does all the money need to be spent when purchases are made?
A: No, if the donors decide to spend a portion of the fund, the remainder will stay in the fund for future purchases.